The start of operations of South-South Global Assets and Technology Exchange marks an effort at helping small and medium enterprises in developing countries to realize sustainable industrial growth despite the global economic downturn.

In tandem with SS-GATE starting operations, the groundbreaking ceremony for South-South Technology Transfer Base, planned as a home to financial institutions, intermediary service providers and research institutions attracted by opportunities brought by SS-GATE, was also held yesterday in Knowledge and Innovation Community in Yangpu District.

The SS-GATE, the Shanghai Environment Energy Exchange together with the upcoming Shanghai Cultural Assets Exchange and Shanghai Equity Trust Exchange will help the city to become an international technology exchange and information center.

"It is a timely move to establish the transfer base and operate SS-GATE amid the global economic crisis," said Cai Minyong, director-general of SS-GATE. "As the global financial crisis deepens, it is one of the most effective rescue plans."

SS-GATE provides an open and fair platform for capital-intensive corporations and technology-intensive enterprises to align together and enhance industrial development. It promotes mergers and acquisitions based on technology exchange and facilitates technology transfer and financing for optimized allocation of technology and capital resources.

After over a year of pilot operations, SS-GATE has established strong cooperative relationships with several regional organizations in Africa, Asia and the Middle East.

"In the face of the double challenges from domestic economic transformation and the global financial crisis, we are committed to continue economic structure adjustment and to promote technological advancement to achieve a sound, stable and relatively rapid development," Mayor Han Zheng said in a congratulatory letter yesterday.

(Shanghai Daily December 10, 2008)